Daily Yellowstone journal., 1887-08-16

". W.
Of the amount Of warrants Of such city
or town, with accrued interest thereon,
which they shall exchange at par for
the bonds of such city or town, to be
issued under the provisions Of this act.
taking such bonds at par. It shall be
the duty Of such city council or board
Of aldermen, ct the next general cleo
tiop occurring after the expiration of
thirty days from the date Of the first
publication ofthe notice aforesaid, upon
the petition Of one hundred electors Of
said city or town, who shall have paid
taxes upon property assessed to them
in said city or town the preceding
year. TO submit TO the vote Of qualified
electors Of such city or town who shall
have paid taxes upon property assessed
to them In said city or town the pre-
ceding year, the question whether the
city council or board Of aldermen shall
issue bonds of said city or town, under
the provisions of this act, in exchange
at par for warrants Of such city or
town, issued prior to the date Of the
first publication Of the aforesaid
notice. or they may submit such ques-
ton at special election, which they
are hereby empowered to call for that
purpose, at any time after the expira-
ton Of thirty days from the date Of
such publication Of the notice afore-
mentioned on the petition Of one hun
dred qualified electors as aforesaid,
and they shall publish, for the period
of at least thirty days Immediately
preceding some general or special cleo
ton. in some newspaper published In
such city or town, notice that such
question will be submitted to the duly
qualified electors as aforesaid at such
election. The treasurer Of the city or
town shall make out and cause to be
delivered to the Judges of election in
each election precinct, prior TO said
election, certified list Of the taxpay-
ers of such city or town who shall
have paid taxes upon property assessed
to them In the preceding year, and no
person shall vote upon the question OF
funding the city or town Indebtedness
unless bis name shall appear upon
such certified Its. nor unless be shall
have paid all city or town taxes as
sessed against him In such city or
town the preceding year. II MAJOR.
ity of the votss lawfully cast upon the
question of such funding Of the city or
town Indebtedness shall he for fund
ing such Indebtedness, the city couD.
Gil or board Of aldermen may issue to
any person or corporation holding any
city or town warrant or warrants
issued prior TO the date Of the first pub
lication OF the aforementioned notice,
coupon bonds Of such city or town In
exchange therefor at par. No bonds
shall be issued for less denomination
than one hundred dollars, and II Issued
for some greater amount. then for
some multiple of that sum, and the
rate of interest shall not exceed seven
per cent. per annum, the interest to
be paid semi.annually at the office Of
the city or town treasurer, such bonds
to be payable at the pleasure Of the
city or town after two years from the
date of their issuance and not later
than ten year, after date Of issue.
The whole amount of bonds issued
under this act shall not exceed the
sum Of the city or town indebtedness
at the date Of the first publication o
the aforemen toned notice.
SECTION 81. All bonds issued unde
the provisions Of this act shall b
signed by the mayor and counter
signed by the city clerk or recorder
and bear the seal Of the city or TOW n
and shall be numbered and rekistere'
and kept in 4 book kept for that pur
pose by the city clerk, and also by th
city or town treasurer.
SECTION 9s. The city council o
board of aldermen shall prescribe tn
J form of such bonds and the interes
coupons attached, and provide for tn
half yearly interest, when the sam
shall he payable. For this purpos
they shall cause 70 be levied and col
lected annually a Sufficient tax to fulll
discharge said interest, and the re
demption of the principal Of sai'
bonds as 1t shall become due. The,
, are hereby empowered to cause TO b
annually levied at the end Of one yea
after the date Of such bonds, by . Ia
upon oil taxable property In the cit,
or town, fund equal TO ten per cent
of the whole amount Of such bond
issued and outstanding, which fun
shall be redemption fund. and sha
be kept and paid out by the city q
town treasurer In the redemption {
any interest remaining due, IN
on the maturity thereof. for n
redemption Of the principal on sal